Hovnanian (HOV) Enterprises announced the signing of a strategic Memorandum of Understanding between its Middle East subsidiary, K. Hovnanian M.E. Investments, LLC, and Saudi Arabian real estate developer NHC. The MOU was signed by Mohammad Albuty, Chief Executive Officer of NHC, and Ara K. Hovnanian, Chairman of the Board, President, and Chief Executive Officer of Hovnanian Enterprises, Inc., and formalized at the Saudi-U.S. Investment Forum in Riyadh on May 13, 2025, during President Donald J. Trump’s recent visit to the Kingdom. The MOU builds on the ongoing collaboration between K. Hovnanian M.E. and NHC and includes forming joint working groups and pursuing opportunities within NHC projects, all in support of Vision 2030 and the creation of vibrant, livable communities across Saudi Arabia. In line with President Trump’s visit, these efforts seek to expand U.S. investment and strengthen commercial ties with Saudi Arabia, the company said.
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